Aug 23, 2023

Elon Musk’s SpaceX Rockets To $140 Billion Valuation Following Recent Share Sales By Investors Adding $61 Billion To Musk’s Net Worth

Posted by in categories: Elon Musk, finance, space travel

The race to space exploration has been heating up, with Elon Musk’s SpaceX making significant strides in the sector. The private company is valued at approximately $150 billion after a recent share sale by investors. Musk is speculated to own roughly 44% of the company.

The company reached an agreement with both new and existing investors to offer up to $750 million in stock from insiders at a price of $81 per share last month, valuing it at approximately $140 billion, according to a document sent by SpaceX Chief Financial Officer Bret Johnsen.

The latest share price reflects a rise of approximately 5% compared to its previous secondary sale at $77 per share. But Musk does not “anticipate needing to raise funding in the near future” and is expected to opt for secondary sales to bolster and incentivize employee and insider ownership in the company.

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